Continued N.C. Economic Expansion Expected in 2018; Infrastructure Legislation Possible

Continued N.C. Economic Expansion Expected in 2018; Infrastructure Legislation Possible

Growth of North Carolina’s Gross State Product (GSP) in early 2018 is surpassing that of the final quarter of 2017, according to UNC Charlotte economist John Connaughton. In 2018, GSP is expected to reach a level of $570,389.5 million. “Real” (i.e. inflation-adjusted) GSP is expected to increase by 2.9 percent over the 2017 level, with 14 out of the state’s 15 economic sectors set to increase output in 2018. Mining should see the largest increase, at 30.7 percent. The only exception is agriculture, which is expected to decline by 0.04 percent. Connaughton said an infrastructure bill could extend the US economic expansion for several more years, but possibly at the expense of increasing the federal deficit. He presented his quarterly forecast as part of the Barings/UNC Charlotte Economic Forecast.

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